Changing the equity + cashflow split between partners

[Daniel Zapata]

I own some multifamily real estate with a sweat equity partner and we currently split the equity and cashflow 50/50. We probably have another 5+ years of holding the properties before considering selling, but do reassess periodically.

I work full time in tech and make a good salary, so taxes are always a concern for me. I believe my partner could use more cashflow. Are there any issues/concerns I should be thinking about if we were to change our split to have him take 100% of the cashflow and I assume all of the equity in the property? Has anyone done this before?